Satellite imaging company Planet Labs PBC saw its stock surge dramatically, jumping about 22% in after-hours trading to $32.97 following the release of its fourth-quarter and full-year fiscal 2026 results. This adds to an extraordinary 524% rally over the past 12 months, with the stock also gaining 8.7% during regular trading on Thursday.
The company reported record quarterly revenue of $86.8 million for the period ending January, marking a 41% year-over-year increase and soundly beating analyst expectations of $78.2 million. For the full fiscal year, revenue rose 26% to a record $307.7 million. A key milestone was achieved as Planet Labs reported its first annual adjusted profit since its 2021 public listing, with adjusted EBITDA of $15.5 million for the year, compared to an adjusted loss of $10.6 million in the prior year. The Q4 adjusted EBITDA was $2.3 million, against an expected loss of around $6 million.
Future growth visibility is bolstered by a massive $900 million backlog, up 79% from the previous year. This includes contracts with Sweden, Germany, and Japan collectively valued at over $500 million. For the current quarter, the company expects revenue between $87 million and $91 million. More significantly, its fiscal 2027 revenue guidance of $415 million to $440 million far exceeded analyst models of $380 million, driving much of the investor enthusiasm.
CEO Will Marshall called it a "transformational year" and highlighted the growing role of artificial intelligence. The company is deepening its AI and tech partnerships, including a collaboration with Nvidia to integrate GPUs into its next-generation Pelican satellites and Owl constellation for higher-resolution, faster-processed imagery. It has also partnered with Google on Project Suncatcher, which aims to test space-based data centers powered by solar energy.
Planet Labs, which went public via a SPAC at a $2.8 billion valuation, is now valued at approximately $8.4 billion, reflecting strong investor confidence in the commercial space and geospatial intelligence sector.
